Auditors use different audit procedures to test management's assertions about a company's financial statements. The techniques employed depend upon the strength of the evidence desired, requirements ...

Small businesses hold a wide variety of assets, which make up a large portion of a new company's balance sheet. During an audit, the audit team is required to verify management's assertion that these ...

Editor’s note: The author is technical director of the AICPA Center for Plain English Accounting. Addressing audit risk in financial statements with high levels of substantive procedures toward the ...

Risk assessment is at the core of every audit. The goals of identifying, assessing, and responding to risks of material misstatement (“risks”) drive every audit procedure, from gaining an ...

I’ve been through quite a few audits over the years, including a number of failures detailed recently by experienced auditor, Kyle Robinson of Grant Thornton. Here are six ways Robinson spells out to ...

Any business that uses assets should hold a regular asset inventory audit in order to track important data like the number, condition, and location of all assets. The audit is a cost-effective method ...

You know an FDA audit can happen at any time, but would you really be prepared if it happened today? Isabelle Noblanc FDA in December posted the most recent list of inspection observations issued ...

The Public Company Accounting Oversight Board voted unanimously Tuesday to propose for public comment a new standard for audit confirmations, replacing an interim standard that hasn't changed for two ...